<p>I know I;m going to need loans for when I start columbia college chicago next year as a transfer student</p>
<p>and I plan to do FAFSA on the 1st so I can do it very early and get it out of the way</p>
<p>By selecting loan options in FAFSA should my award letter from the school give me federal loan option?</p>
<p>Also, do I only look to private loans if the federal ones and grants etc.. aren't enough to cover everything?</p>
<p>Well…first, yes, do the FAFSA as soon as possible, but do realize that you will have to do your 2009 taxes and amend the FAFSA to reflect those numbers from your 2009 taxes before your financial aid award is finalized. You will want to do that as soon as you can after Feb 1.</p>
<p>Re: loans. I would do as you are thinking. By completing the FAFSA, you will be eligible for Stafford loans. Depending on your year in college, the amount varies. If that amount of loans isn’t enough, then look elsewhere.</p>
<p>Keep in mind that as a student, you will not likely be able to easily get private loans without a cosigner. Your parents can cosign or they can apply for PLUS loans in their name to help you. The discussion about loans and amounts is something you need to have with your family.</p>